Beacon Pointe Advisors LLC Acquires New Shares in Veralto Co. (NYSE:VLTO)

Beacon Pointe Advisors LLC bought a new position in shares of Veralto Co. (NYSE:VLTO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,244 shares of the company’s stock, valued at approximately $514,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fishman Jay A Ltd. MI raised its holdings in Veralto by 6.0% in the 4th quarter. Fishman Jay A Ltd. MI now owns 4,174 shares of the company’s stock valued at $343,000 after buying an additional 238 shares during the period. Sugarloaf Wealth Management LLC purchased a new stake in shares of Veralto in the 4th quarter valued at approximately $25,000. Blue Trust Inc. acquired a new position in shares of Veralto in the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Veralto during the 4th quarter worth approximately $25,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Veralto in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on VLTO. Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada raised their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. The Goldman Sachs Group initiated coverage on shares of Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird raised their target price on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veralto has a consensus rating of “Moderate Buy” and an average price target of $95.18.

Veralto Price Performance

Shares of Veralto stock opened at $99.86 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto Co. has a 52 week low of $65.51 and a 52 week high of $101.05. The firm’s 50 day moving average is $92.14 and its two-hundred day moving average is $83.75.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts predict that Veralto Co. will post 3.34 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.36%.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.